China Monetary Statistics for October 2012

People's Bank of China published the latest monetary statistics for October.

M2 money supply rose 14.1% compared with a year ago, down from 14.8% yoy in September, and below market estimate. M2 money supply increased by 6.1%, down from 7.3% yoy in September, while M0 increased by 10.5% yoy.

Net new loans in Chinese Yuan amounted to RMB505.2 billion, missing estimate, as reported in the aggregate financing numbers. Net new lending to households for the month amounted to RMB145.6 billion, while net new lending to non-financial corporations amounted to RMB358.6 billion. Of RMB358.6 billion net new lending to non-financial corporations, RMB249.7 billion wwas short-term loans, RMB168.5 billion was medium- and long-term loans, while bill financing fell for the second consecutive month by RMB73.2 billion.